Secure transaction system and method utilized therein

Details Secure transaction system and method utilized therein Secure transaction system and method utilized therein

1995-05-22

1997-07-08

Cangialosi, Salvatore

Cryptography

Particular algorithmic function encoding

Nbs/des algorithm

380 24, H04L 900

Patent

active

056469985

ABSTRACT:
A transaction system is disclosed wherein, when a transaction, document or thing needs to be authenticated, information associated with one or more of the parties involved is coded together to produce a joint code. This joint code is then utilized to code information relevant to the transaction, document or record, in order to produce a variable authentication number (VAN) at the initiation of the transaction. This VAN is thereafter associated with the transaction and is recorded on the document or thing, along with the original information that was coded. During subsequent stages of the transaction, only parties capable of reconstructing the joint code will be able to uncode the VAN properly in order to re-derive the information. The joint code serves to authenticate the parties, and the comparison of the re-derived information against the information recorded on the document serves to authenticate the accuracy of that information.

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